Damage from June floods in Europe amounts to 12 bln euros - report

According to the representative of the company Torsten Jeworrek, floods cause significant damage more often in recent decades

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Photo EPA/ITAR-TASS

BERLIN, July 9. /ITAR-TASS reporter Anton Dolgunov /. Damage from the floods that covered the countries of Central Europe, especially Germany and the Czech Republic this June, amounts to EUR 12 billion, 3 billion of which will be paid off by insurance companies. Such data was provided today by Munich Re AG, one of the leading insurance providers.

According to the representative of the company Torsten Jeworrek, floods cause significant damage more often in recent decades. “Based on the above, it is necessary to calculate in advance the risks and extend riverbeds”, he said. “Politicians should not only establish funds for the victims of the flood, but also take prevention measures and whenever appropriate coordinate their work with colleagues from neighboring states.”

In late June, German Bundestag members have decided to establish a special fund of EUR 8 billion to help the flood victims. The funds will be allocated by the government of Germany and the federal states. Thus the national debt of the Federal Republic this year will rise to EUR 25.1 billion.

The floods have caused heavy damage to agriculture and transportation infrastructure. In particular, a section of a railway line connecting Hanover /Lower Saxony/ and the German capital Berlin, will be closed at least until December of this year. Currently trains are running on a modified route through Magdeburg /Saxony-Anhalt/, so that the time of travel is about three hours instead of two.

Thus, the flooding in Europe, which has also affected Austria, Slovakia, Serbia and Hungary, according to the report of the company, became one of the most devastating disaster strikes around the world of the first half of the year. As a comparison, the tornado that destroyed about a thousand houses, 7 schools and one hospital in the state of Oklahoma in May, has caused damage of EUR 3 billion, according to the authors of the report. Then, 370 people were injured and 26 killed.